NYC to 200k Forum

[Anonymous User]

i'm personally not surprised the McDermott post was false. i even had to google them to work out who they are.

do they only have a TX office or something?

They're a big firm. Headquartered in Chicago. Not anywhere near the top of the market, though.

[Anonymous User]

Jones Day just matched, with retroactive compensation to summers.

What the heck is "retroactive compensation"? I want that.

What's your source? I'm a JD associate and we've gotten no info, and it would be really atypical of the firm to announce something like this

I’m at JD and can confirm this is true. The summer associates leave for DC tomorrow and this was announced via an email to them.

[emptyflare]

Jones Day just matched, with retroactive compensation to summers.

What the heck is "retroactive compensation"? I want that.

What's your source? I'm a JD associate and we've gotten no info, and it would be really atypical of the firm to announce something like this

I’m at JD and can confirm this is true. The summer associates leave for DC tomorrow and this was announced via an email to them.

To confirm, is this a match on both the $190K base and the summer bonus scale?

[Anonymous User]

Jones Day just matched, with retroactive compensation to summers.

What the heck is "retroactive compensation"? I want that.

What's your source? I'm a JD associate and we've gotten no info, and it would be really atypical of the firm to announce something like this

I’m at JD and can confirm this is true. The summer associates leave for DC tomorrow and this was announced via an email to them.

Whoooaaa. Do you know what other info this provided? i.e., how it works across offices?

[Anonymous User]

Jones Day just matched, with retroactive compensation to summers.

What the heck is "retroactive compensation"? I want that.

What's your source? I'm a JD associate and we've gotten no info, and it would be really atypical of the firm to announce something like this

I’m at JD and can confirm this is true. The summer associates leave for DC tomorrow and this was announced via an email to them.

If this is true, I'd be pretty pissed as an associate that the summer associates found out before I did...

[Anonymous User]

Jones Day just matched, with retroactive compensation to summers.

What the heck is "retroactive compensation"? I want that.

What's your source? I'm a JD associate and we've gotten no info, and it would be really atypical of the firm to announce something like this

I’m at JD and can confirm this is true. The summer associates leave for DC tomorrow and this was announced via an email to them.

If this is true, I'd be pretty pissed as an associate that the summer associates found out before I did...

Current summer, can confirm this is true. It's a 10k raise that applies to all offices, so now comp is 170-190k across the board depending on whether you're in a major or secondary market.

[Anonymous User]

This is jumping the gun a little but I kind of wonder what this means for mid-sized TX firms that matched at 180. Going to be hard for them to sit at 180 when all the national firms w/ Houston offices go 190 firmwide and I'm assuming at least VE and BB do as well.

[Anonymous User]

Jones Day just matched, with retroactive compensation to summers.

What the heck is "retroactive compensation"? I want that.

What's your source? I'm a JD associate and we've gotten no info, and it would be really atypical of the firm to announce something like this

I’m at JD and can confirm this is true. The summer associates leave for DC tomorrow and this was announced via an email to them.

If this is true, I'd be pretty pissed as an associate that the summer associates found out before I did...

Current summer, can confirm this is true. It's a 10k raise that applies to all offices, so now comp is 170-190k across the board depending on whether you're in a major or secondary market.

As a current summer. I've spent some time thinking about how hilarious it would be if a Milbank summer was splitting at a firm that doesnt raise salaries/summer pay. JD is clearly trying to curry favor with any summers splitting with firms that might raise

[Anonymous User]

Jones Day just matched, with retroactive compensation to summers.

What the heck is "retroactive compensation"? I want that.

What's your source? I'm a JD associate and we've gotten no info, and it would be really atypical of the firm to announce something like this

I’m at JD and can confirm this is true. The summer associates leave for DC tomorrow and this was announced via an email to them.

If this is true, I'd be pretty pissed as an associate that the summer associates found out before I did...

Current summer, can confirm this is true. It's a 10k raise that applies to all offices, so now comp is 170-190k across the board depending on whether you're in a major or secondary market.

As a current summer. I've spent some time thinking about how hilarious it would be if a Milbank summer was splitting at a firm that doesnt raise salaries/summer pay. JD is clearly trying to curry favor with any summers splitting with firms that might raise

So is JD doing the STB Bonus too?

[Anonymous User]

So is JD doing the STB Bonus too?

Someone can correct me if I'm wrong, but my understanding as a summer is that JD never does bonuses; the extra "standard bonus" is just folded into your yearly raise

[Anonymous User]

So is JD doing the STB Bonus too?

Someone can correct me if I'm wrong, but my understanding as a summer is that JD never does bonuses; the extra "standard bonus" is just folded into your yearly raise

JD associate from earlier. Can't believe they told summers and not us. And you're right that JD doesn't do bonuses. But yeah that whole 'bonus folded into your yearly raise' is complete and utter bullshit

[DiligentSage]

Man, this is just crazy.

Anyone have predictions on secondary markets? (Excluding TX); Seattle, San Diego, Delaware firms?

Is SD even at $180k yet? Idk the big players down there, but maybe if you're lucky in SD someone like Sheppard Mullin raises (even if not a full match), but I assume the whole market won't.

Associate in SD here. Pretty much all of the big law satellite offices in town (Jones Day, MoFo, Pillsbury, Gunderson, etc.) and obviously Latham/Cooley (which are legitimately large offices and handle a lot of the major SD business) are at $180K. As for what the rest of the market past that looks like, I dunno but San Diego's generally followed the rest of CA in compensation despite being a rather insular market that's hard to get into for non-locals. If compensation ever changed relative to the rest of CA, that probably wouldn't be taken well since the COL here can get surprisingly high. As generally chill, relaxed, and OMGBEACHSOCLOSETOMYHOUSE the market is, probably would see folks decamp to SF/SV/LA/OC as a result, although as noted above, I doubt compensation here ever falls behind the rest of CA as a practical matter.

[Anonymous User]

Can you be more precise. Where exactly did DPW cut costs re perks for associates?

It'll be them or KE. I know KE is the odd man out, but I've got a hunch they want to sit at the comp leader table

K&E is more concerned about paying big bucks to lateral rainmakers than paying big bucks to associates. I think DPW, SullCrom, or, heck, even Weil are more likely to bump to $200K than K&E or Cravath.

I think Weil or Paul Weiss are more likely than V5. Can’t speak to experience at S&C but they’ve run out of ways to cut costs over here at DPW re perks and staff. Zero chance we pay more than we have to

[Anonymous User]

So is JD doing the STB Bonus too?

Someone can correct me if I'm wrong, but my understanding as a summer is that JD never does bonuses; the extra "standard bonus" is just folded into your yearly raise

JD associate from earlier. Can't believe they told summers and not us. And you're right that JD doesn't do bonuses. But yeah that whole 'bonus folded into your yearly raise' is complete and utter bullshit

My guess is that JD knows it's easier for summers to trade up then it is for associates to lateral

[Anonymous User]

it's easier for summers to trade up then it is for associates to lateral

that's just wrong

[Wild Card]

Jones Day SAs, why don't you send a redacted email to ATL?

https://abovethelaw.com/2018/06/biglaw- ... r-bonuses/

"Remember everyone, we depend on your tips to stay on top of this stuff. So when your firm matches, please text us (646-820-8477) or email us (subject line: “[Firm Name] Matches Milbank”). Please include the memo if available. You can take a photo of the memo and send it via text or email if you don’t want to forward the original PDF or Word file."

[Anonymous User]

Jones Day SAs, why don't you send a redacted email to ATL?

https://abovethelaw.com/2018/06/biglaw- ... r-bonuses/

"Remember everyone, we depend on your tips to stay on top of this stuff. So when your firm matches, please text us (646-820-8477) or email us (subject line: “[Firm Name] Matches Milbank”). Please include the memo if available. You can take a photo of the memo and send it via text or email if you don’t want to forward the original PDF or Word file."

Yes, please do this. They are always confidential

[Anonymous User]

I think Weil or Paul Weiss are more likely than V5. Can’t speak to experience at S&C but they’ve run out of ways to cut costs over here at DPW re perks and staff. Zero chance we pay more than we have to

Can you be more precise. Where exactly did DPW cut costs re perks for associates?

You would get a shorter answer if you asked the opposite question.

[Anonymous User]

I think Weil or Paul Weiss are more likely than V5. Can’t speak to experience at S&C but they’ve run out of ways to cut costs over here at DPW re perks and staff. Zero chance we pay more than we have to

Can you be more precise. Where exactly did DPW cut costs re perks for associates?

You would get a shorter answer if you asked the opposite question.

Where did not DPW cut costs re perks for associates?

[Anonymous User]

Man, this is just crazy.

Anyone have predictions on secondary markets? (Excluding TX); Seattle, San Diego, Delaware firms?

Is SD even at $180k yet? Idk the big players down there, but maybe if you're lucky in SD someone like Sheppard Mullin raises (even if not a full match), but I assume the whole market won't.

Associate in SD here. Pretty much all of the big law satellite offices in town (Jones Day, MoFo, Pillsbury, Gunderson, etc.) and obviously Latham/Cooley (which are legitimately large offices and handle a lot of the major SD business) are at $180K. As for what the rest of the market past that looks like, I dunno but San Diego's generally followed the rest of CA in compensation despite being a rather insular market that's hard to get into for non-locals. If compensation ever changed relative to the rest of CA, that probably wouldn't be taken well since the COL here can get surprisingly high. As generally chill, relaxed, and OMGBEACHSOCLOSETOMYHOUSE the market is, probably would see folks decamp to SF/SV/LA/OC as a result, although as noted above, I doubt compensation here ever falls behind the rest of CA as a practical matter.

I don’t know man. I clerked for the 9th Circuit and a District Judge in SD. Still couldn’t even get an interview at the few biglaw firms down there. Had tons of OC, LA, and SF offers even though I had no contacts or interest to live in those places. I’d personally take a 10-20k pay cut to live in SD. But I’m no Yale/Columbia grad (my law school is second tier and ranked just a handful of slots above USD) so maybe that was my problem.

[Anonymous User]

Inside source at Jones day (who is currently at an SA event) and confirmed that the JD thing is fake news.

[Anonymous User]

Inside source at Jones day (who is currently at an SA event) and confirmed that the JD thing is fake news.

Lol this is not true

[Anonymous User]

Inside source at Jones day (who is currently at an SA event) and confirmed that the JD thing is fake news.

Lol this is not true

Okie dokie it is true (even if he is mistaken) but if the JD match happened why hasn't a single associate confirmed?

[Anonymous User]

I think Weil or Paul Weiss are more likely than V5. Can’t speak to experience at S&C but they’ve run out of ways to cut costs over here at DPW re perks and staff. Zero chance we pay more than we have to

Can you be more precise. Where exactly did DPW cut costs re perks for associates?

You would get a shorter answer if you asked the opposite question.

theres still no answer at all

[Anonymous User]

Jones Day just matched, with retroactive compensation to summers.

What the heck is "retroactive compensation"? I want that.

What's your source? I'm a JD associate and we've gotten no info, and it would be really atypical of the firm to announce something like this

I’m at JD and can confirm this is true. The summer associates leave for DC tomorrow and this was announced via an email to them.

If this is true, I'd be pretty pissed as an associate that the summer associates found out before I did...

Current summer, can confirm this is true. It's a 10k raise that applies to all offices, so now comp is 170-190k across the board depending on whether you're in a major or secondary market.

Wait just a 10k raise? So not the 15 for seniors? And what does bonuses “rolled into a raise” mean? Are salaries above market?

This all sounds like some bs